XML 63 R43.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Pension and other post-retirement benefits (Tables) | 12 Months Ended
--- | ---
Dec. 31, 2021
Retirement Benefits [Abstract] |
Schedule of Benefit Obligations Fair Value of Plan Assets and Funded Status | The following table sets forth the projected benefit obligations, fair value of plan assets, and funded status of the Company’s plans as of December 31:
| Pension benefits |  | OPEB
| 2021 |  | 2020 |  | 2021 |  | 2020
Change in projected benefit obligation |  |  |  |  |  |  |
Projected benefit obligation, beginning of year | $ | 834,913 |  |  | $ | 564,970 |  |  | $ | 306,524 |  |  | $ | 219,217 |
Projected benefit obligation assumed from business combination | — |  |  | 195,231 |  |  | — |  |  | 44,950 |
Plan Settlements | (1,294) |  |  | — |  |  | — |  |  | — |
Service cost | 14,673 |  |  | 15,450 |  |  | 7,307 |  |  | 6,175 |
Interest cost | 20,676 |  |  | 19,281 |  |  | 8,048 |  |  | 7,695 |
Actuarial loss (gain) | (36,597) |  |  | 76,618 |  |  | (18,977) |  |  | 34,507 |
Contributions from retirees | — |  |  | 171 |  |  | 2,040 |  |  | 2,037 |
Plan amendments | 237 |  |  | (191) |  |  | 310 |  |  | — |
Medicare Part D | — |  |  | — |  |  | 373 |  |  | 377 |
Benefits paid | (66,800) |  |  | (37,020) |  |  | (12,979) |  |  | (8,434) |
Foreign exchange | (190) |  |  | 403 |  |  | — |  |  | — |
Projected benefit obligation, end of year | $ | 765,618 |  |  | $ | 834,913 |  |  | $ | 292,646 |  |  | $ | 306,524 |
Change in plan assets |  |  |  |  |  |  |
Fair value of plan assets, beginning of year | 629,157 |  |  | 407,074 |  |  | 176,616 |  |  | 158,873 |
Plan assets acquired in business combination | — |  |  | 179,600 |  |  | — |  |  | — |
Actual return on plan assets | 58,721 |  |  | 52,876 |  |  | 15,200 |  |  | 21,219 |
Employer contributions | 29,058 |  |  | 26,099 |  |  | 11,178 |  |  | 2,583 |
Plan Settlements | (1,294) |  |  | — |  |  | — |  |  | — |
Contributions from retirees | — |  |  | 171 |  |  | 1,988 |  |  | 1,998 |
Medicare Part D subsidy receipts | — |  |  | — |  |  | 372 |  |  | 377 |
Benefits paid | (66,800) |  |  | (37,020) |  |  | (12,979) |  |  | (8,434) |
Foreign exchange | 22 |  |  | 357 |  |  | — |  |  | — |
Fair value of plan assets, end of year | $ | 648,864 |  |  | $ | 629,157 |  |  | $ | 192,375 |  |  | $ | 176,616 |
Unfunded status | $ | (116,754) |  |  | $ | (205,756) |  |  | $ | (100,271) |  |  | $ | (129,908) |
Amounts recognized in the consolidated balance sheets consist of: |  |  |  |  |  |  |
Non-current assets (note 11) | 84 |  |  | 488 |  |  | 11,879 |  |  | 10,174 |
Current liabilities | (1,902) |  |  | (1,989) |  |  | (699) |  |  | (2,835) |
Non-current liabilities | (114,936) |  |  | (204,255) |  |  | (111,451) |  |  | (137,247) |
Net amount recognized | $ | (116,754) |  |  | $ | (205,756) |  |  | $ | (100,271) |  |  | $ | (129,908) |
Information for pension and OPEB plans with an accumulated benefit obligation in excess of plan assets:
| Pension |  | OPEB
| 2021 |  | 2020 |  | 2021 |  | 2020
Accumulated benefit obligation | $ | 489,043 |  |  | $ | 727,981 |  |  | $ | 274,649 |  |  | $ | 288,594 |
Fair value of plan assets | $ | 396,679 |  |  | $ | 578,143 |  |  | $ | 162,592 |  |  | $ | 148,496 |
Information for pension and OPEB plans with a projected benefit obligation in excess of plan assets:
| Pension |  | OPEB
| 2021 |  | 2020 |  | 2021 |  | 2020
Projected benefit obligation | $ | 580,841 |  |  | $ | 833,846 |  |  | $ | 274,649 |  |  | $ | 288,594 |
Fair value of plan assets | $ | 452,333 |  |  | $ | 627,601 |  |  | $ | 162,592 |  |  | $ | 148,496 |
Schedule of Amounts Recognized in Other Comprehensive Loss | Pension and post-employment actuarial changes
Change in AOCI (before tax) | Pension |  | OPEB |
| Actuarial losses (gains) |  | Past service gains |  | Actuarial losses (gains) |  | Past service gains |
Balance, January 1, 2020 | $ | 38,510 |  |  | $ | (6,180) |  |  | $ | (9,146) |  |  | $ | — |  |
Additions to AOCI | 50,026 |  |  | (191) |  |  | 22,036 |  |  | — |  |
Amortization in current period | (5,430) |  |  | 1,609 |  |  | (509) |  |  | — |  |
Reclassification to regulatory accounts | (25,875) |  |  | (544) |  |  | (16,680) |  |  | — |  |
Balance, December 31, 2020 | $ | 57,231 |  |  | $ | (5,306) |  |  | $ | (4,299) |  |  | $ | — |  |
Additions to AOCI | (59,754) |  |  | 237 |  |  | (24,126) |  |  | 24 |  |
Amortization in current period | (13,130) |  |  | 1,626 |  |  | (2,021) |  |  | 310 |  |
Amortization pursuant to plan settlements | (210) |  |  | — |  |  | — |  |  | — |  |
Reclassification to regulatory accounts | 31,670 |  |  | (752) |  |  | 14,816 |  |  | — |  |
Balance, December 31, 2021 | $ | 15,807 |  |  | $ | (4,195) |  |  | $ | (15,630) |  |  | $ | 334 |  |
Schedule of Weighted Average Assumptions Used to Determine Net Benefit Obligation | Weighted average assumptions used to determine net benefit obligation for 2021 and 2020 were as follows:
| Pension benefits |  | OPEB
| 2021 |  | 2020 |  | 2021 |  | 2020
Discount rate | 2.94 | % |  | 2.49 | % |  | 2.92 | % |  | 2.58 | %
Interest crediting rate (for cash balance plans) | 4.00 | % |  | 4.15 | % |  | N/A |  | N/A
Rate of compensation increase | 4.00 | % |  | 4.00 | % |  | N/A |  | N/A
Health care cost trend rate |  |  |  |  |  |  |
Before age 65 |  |  |  |  | 5.875 | % |  | 6.00 | %
Age 65 and after |  |  |  |  | 5.875 | % |  | 6.00 | %
Assumed ultimate medical inflation rate |  |  |  |  | 4.75 | % |  | 4.75 | %
Year in which ultimate rate is reached |  |  |  |  | 2031 |  | 2031
Schedule of Weighted Average Assumptions Used to Determine Net Benefit Cost | Weighted average assumptions used to determine net benefit cost for 2021 and 2020 were as follows:
| Pension benefits |  | OPEB
| 2021 |  | 2020 |  | 2021 |  | 2020
Discount rate | 2.49 | % |  | 3.19 | % |  | 2.58 | % |  | 3.29 | %
Expected return on assets | 6.20 | % |  | 6.85 | % |  | 4.79 | % |  | 5.57 | %
Rate of compensation increase | 3.99 | % |  | 3.96 | % |  | n/a |  | n/a
Health care cost trend rate |  |  |  |  |  |  |
Before Age 65 |  |  |  |  | 5.122 | % |  | 6.125 | %
Age 65 and after |  |  |  |  | 5.122 | % |  | 6.125 | %
Assumed ultimate medical inflation rate |  |  |  |  | 4.05 | % |  | 4.75 | %
Year in which ultimate rate is reached |  |  |  |  | 2031 |  | 2031
Components of Net Benefit Costs For Pension Plans and OPEB Recorded as Part of Administrative Expenses | The following table lists the components of net benefit cost for the pension and OPEB plans. Service cost is recorded as part of operating expenses and non-service costs are recorded as part of other net losses in the consolidated statements of operations. The employee benefit costs related to businesses acquired are recorded in the consolidated statements of operations from the date of acquisition.
| Pension benefits |  | OPEB
| 2021 |  | 2020 |  | 2021 |  | 2020
Service cost | $ | 14,673 |  |  | $ | 15,450 |  |  | $ | 7,307 |  |  | $ | 6,175 |
Non-service costs |  |  |  |  |  |  |
Interest cost | 20,676 |  |  | 19,281 |  |  | 8,048 |  |  | 7,695 |
Expected return on plan assets | (35,972) |  |  | (26,285) |  |  | (10,052) |  |  | (8,748) |
Amortization of net actuarial loss | 13,126 |  |  | 5,430 |  |  | 2,021 |  |  | 509 |
Amortization of prior service credits | (1,626) |  |  | (1,609) |  |  | 11 |  |  | — |
Settlement Loss Recognized | 198 |  |  | — |  |  | — |  |  | — |
Amortization of regulatory accounts | 19,665 |  |  | 16,272 |  |  | 218 |  |  | 1,527 |
| $ | 16,067 |  |  | $ | 13,089 |  |  | $ | 246 |  |  | $ | 983 |
Net benefit cost | $ | 30,740 |  |  | $ | 28,539 |  |  | $ | 7,553 |  |  | $ | 7,158 |
Schedule of Target Asset Allocation | The Company’s target asset allocation is as follows:
Asset class |  | Target (%) |  | Range (%)
Equity securities |  | 48 | % |  | 30% -100%
Debt securities |  | 43 | % |  | 20% - 60%
Other |  | 9 | % |  | 0% - 20%
|  | 100 | % |  |
The fair values of investments as of December 31, 2021, by asset category, are as follows:
Asset class |  |  |  | 2021 |  | Percentage
Equity securities |  |  |  | $ | 429,147 |  |  | 51 | %
Debt securities |  |  |  | 350,834 |  |  | 42 | %
Other |  |  |  | 61,259 |  |  | 7 | %
|  |  |  | $ | 841,240 |  |  | 100 | %
Schedule of Changes in Fair Value of Plan Assets | The following table summarizes the changes fair value of these level 3 assets as of December 31:
|  |  |  | Level 3
Balance, January 1, 2021 |  |  |  | $ | 7,745 |
Contributions into funds |  |  |  | 6,233 |
Unrealized gains |  |  |  | 4,257 |
Distributions |  |  |  | (921) |
Balance, December 31, 2021 |  |  |  | $ | 17,314 |
Schedule of Expected Benefit Payments | The expected benefit payments over the next ten years are as follows:
| 2022 |  | 2023 |  | 2024 |  | 2025 |  | 2026 |  | 2027-2031
Pension plan | $ | 47,802 |  |  | $ | 43,760 |  |  | $ | 44,478 |  |  | $ | 46,318 |  |  | $ | 47,554 |  |  | $ | 238,011 |
OPEB | 10,465 |  |  | 11,064 |  |  | 11,646 |  |  | 12,060 |  |  | 12,543 |  |  | 68,454 |

X
- Definition Defined Benefit Plan, Net Benefit Cost Assumptions + References No definition available. + Details
Name: | aqunf_DefinedBenefitPlanNetBenefitCostAssumptionsTableTextBlock
Namespace Prefix: | aqunf_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_CompensationAndRetirementDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the major categories of plan assets of pension plans and/or other employee benefit plans. This information may include, but is not limited to, the target allocation of plan assets, the fair value of each major category of plan assets, and the level within the fair value hierarchy in which the fair value measurements fall. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (d)(5) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAllocationOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assumption used to determine benefit obligation and net periodic benefit cost of defined benefit plan. Includes, but is not limited to, discount rate, rate of compensation increase, expected long-term rate of return on plan assets and interest crediting rate. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (k) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfAssumptionsUsedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the reconciliation of beginning and ending balances of the fair value of plan assets of pension plans and/or other employee benefit plans showing separately, if applicable, the effects during the period attributable to each of the following: actual return on plan assets, foreign currency exchange rate changes, contributions by the employer, contributions by plan participants, benefits paid, business combinations, divestitures, and settlements. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfChangesInFairValueOfPlanAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the changes in plan assets and benefit obligations recognized in other comprehensive income (loss) during the period. + References No definition available. + Details
Name: | us-gaap_ScheduleOfDefinedBenefitPlanAmountsRecognizedInOtherComprehensiveIncomeLossTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of one or more of the entity's defined benefit pension plans or one or more other defined benefit postretirement plans, separately for pension plans and other postretirement benefit plans including the entity's schedule of fair value of plan assets for defined benefit or other postretirement plans. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 55 -Paragraph 17 -URI http://asc.fasb.org/extlink&oid=123450688&loc=d3e4179-114921 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e2439-114920 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e2410-114920 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e2417-114920 + Details
Name: | us-gaap_ScheduleOfDefinedBenefitPlansDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of benefits expected to be paid by pension plans and/or other employee benefit plans in each of the next five fiscal years and in the aggregate for the five fiscal years thereafter. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (f) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfExpectedBenefitPaymentsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the components of net benefit costs for pension plans and/or other employee benefit plans including service cost, interest cost, expected return on plan assets, gain (loss), prior service cost or credit, transition asset or obligation, and gain (loss) recognized due to settlements or curtailments. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 715 -SubTopic 20 -Section 50 -Paragraph 1 -Subparagraph (h) -URI http://asc.fasb.org/extlink&oid=123447040&loc=d3e1928-114920 + Details
Name: | us-gaap_ScheduleOfNetBenefitCostsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration